DaySmart Software Survey Looks at How U.S. Small Businesses Are Using Tech

Chris Crum writes for Small Business Resources about what's new for small business. Chris was a featured writer with the iEntry Network of B2B Publications where hundreds of publications linked to his articles including the Wall Street Journal, USA Today, LA Times and the New York Times.

DaySmart Software Survey Looks at How U.S. Small Businesses Are Using Tech

DaySmart Software Survey Looks at How U.S. Small Businesses Are Using Tech

DaySmart Software recently released the results of a survey about how small businesses in the United States are using technology. The company partnered with Researchscape International to survey over 1,700 small business owners with fewer than 100 employees.

According to DaySmart, the top five challenges facing U.S. small businesses are: making enough money; controlling costs; finding new customers; marketing to prospective or current customers; and managing time. Many are turning to technology to help solve these problems.

"It’s a transitional time for small businesses in the United States. With increasing competition —whether from peers or larger corporations — and evolving expectations in the tech-driven age, small businesses are pressured to keep pace with the changing market," DaySmart says. "As the world becomes more digital and consumers become more digitally inclined, small business owners are being forced to evaluate, select and implement software tools that not only enable them to remain competitive, but that also empower growth."

The survey found that 51 percent of small businesses use business management software to manage daily operations, and of those, 42 percent see the benefits of cloud-based software. Thirty-eight percent prefer on-premise solutions.

Marketing software is the top technology investment that business owners are making in 2019, followed by POS systems and data security, according to the findings. Forty-one percent use desktop POS solutions, while 20 percent use POS terminals, and 19 percent rely on smartphones.

Image via DaySmart Software

According to DaySmart, the survey findings indicate that businesses are seeing improved customer relationships when they accept cards for payment as many consumers don't carry cash.

With regards to marketing technology, 53 percent plan to invest more in social media, while 39 percent are experimenting with new marketing channels in general.

Sixty-seven percent of small businesses using business management software claimed to have increased sales from 2017 to 2018, compared to 58 percent of those not using it. Of those using the software that increased sales, eight percent grew sales by 50 to 100 percent or more. Twenty-one percent of businesses that use such software own more than one retail location compared to 13 percent of those companies who do not use such software.

The benefits businesses are gaining from business management software are many. The top benefits include reduced manual effort and paperwork; increased customer satisfaction; improved work-life balance; increased sales/revenue; and decreased missed appointments.

Image via DaySmart Software

According to the survey findings, business owners consider the most important software features to be scheduling; accounting/finance; POS; automating customer communications; inventory management; automated marketing; and website development.

Image via DaySmart Software

Of course, there are plenty of businesses who would like to be reaping the benefits of such software and features, but barriers still remain for some. The top five barriers to software adoption, according to the survey, are a lack of budget resources; a lack of expertise within the company; concerns about cybersecurity risks; not understanding which tools are needed to solve the problems at hand; and a focus on hiring rather than on software.

DaySmart Software Survey Looks at How U.S. Small Businesses Are Using Tech

The information included on this website is designed for informational purposes only. It is not legal, tax, financial, or any other sort of advice; nor is it a substitute for such advice. The information on this site may not apply to your specific situation. We have tried to make sure the information is accurate, but it could be outdated or even inaccurate, in parts. It is the reader's responsibility to comply with any applicable local, state, or federal regulations, and to make their own decisions about how to operate their business. Nationwide Mutual Insurance Company, its affiliates, and their employees make no warranties about the information, no guarantee of results, and assume no liability in connection with the information provided.

The information included on this website is designed for informational purposes only. It is not legal, tax, financial, or any other sort of advice; nor is it a substitute for such advice. The information on this site may not apply to your specific situation. We have tried to make sure the information is accurate, but it could be outdated or even inaccurate, in parts. It is the reader's responsibility to comply with any applicable local, state, or federal regulations, and to make their own decisions about how to operate their business. Nationwide Mutual Insurance Company, its affiliates, and their employees make no warranties about the information, no guarantee of results, and assume no liability in connection with the information provided.